Professor of Finance and Capital Market at the Nassarawa State University, Uche Uwaleke
A professor of Finance and Capital Market at the Nassarawa State University, Uche Uwaleke, says the rise in commodity prices experienced across Nigeria was expected, but that it would trend down by December.
Reacting to inflation rates which picked at 13.22% according to Consumer Price Index (CPI), which measures prices of goods and services, released by the National Bureau of Statistics (NBS) on Tuesday, Prof Uwaleke stated that the pressure is not unconnected to the effect of the COVID-19 pandemic, security challenges in the country and other fiscal policies of government.
“The uptick in inflation rate in August was expected and will likely continue till the harvest season sets in,” Uwaleke said. “This is particularly so, given the fact that the inflationary pressure is coming more from the food component which increased by as much as 16 per cent.
“ It is not difficult to see where the pressure is coming from. The economy is still reeling from the negative impact of COVID’19 on the food supply chain. This situation is compounded by the border closure, increase in VAT, electricity tariff, stamp duties and upward exchange rate adjustments by the CBN to ease pressure on the market.”
The University don also observed that the recent increase in pump price of fuel presented downside risks to inflation, as well as insecurity.
“There is also the insecurity challenge affecting the food belts of the country, and this partly explains the high rate of food inflation, at over 20 per cent, in states like Kogi. I expect the inflation rate to moderate towards the end of Q4 2020 in the wake of the harvest season as well as a likely increase in external reserves following gradual recovery in crude oil price, which helps stabilise exchange rate.
“I also think the COVID’19 interventions by government and the CBN, especially in the Agric value chain will begin to manifest in Q4 2020.The way forward to rein in inflation is for government to tackle insecurity so that farmers can return to their farms and put in place deliberate policy to promote large-scale mechanised Agriculture. This will involve scaling up interventions in Agriculture, including recapitalizing of Development Finance institutions like the Bank of Agriculture,” Prof. Uwaleke advised.
Inflation rate in Nigeria has spiralled up to hit 13.22% as the end of August, a record that broke a 29-month moving average.
The Consumer Price Index (CPI), which measures prices of goods and services, released by the National Bureau of Statistics (NBS) on Tuesday revealed that the 13.22 percent is 0.40 percent points higher than the 12.82 percent recorded in July.
The CPI stated that inflation rate rose by 1.34% on a month-on-month basis, indicating they August inflation rate was the highest since April 2018.https://echotitbits.com/poultry-farmers-demand-total-ban-on-importation-of-poultry-products/
Year-on-year inflation rate declined from 13.34 percent in March 2018 to 12.48 percent the following month. It had remained between 11 and 13 until last month.
According to The Guardian, data contained in the CPI report showed that the food category recorded 17.3 percent to emerge as the item with the highest price increase in the year. The prices of imported foods increased by 16.6 percent in the period.
Furthermore, items such as – food, imported food, footwear/clothing, transport, health, communication, education, restaurant/hotels, food/non-alcoholic beverage, recreation/culture, furnishings/household, equipment,, maintenance, housing, water, electricity, gas, other fuel and alcoholic beverage, tobacco, kola, as captured by CPI basket within the 12-month period reviewed experienced decrease in prices (deflation).
The CPI stated further in its review that year-on-year inflation in urban areas moved from 13.40 percent in July to 13.83 percent in August while month-on-month increased from 1.27 percent to 1.40 percent.
in rural areas, year-on-year inflation rose from 12.28 percent in July to 12.65 percent in August while as per month-on-month, it rose up slightly – from 1.23 percent to 1.27 percent.
States that led the pack being above national average in food inflation as at August 2020 were Kogi, Kwara, Edo and Delta, with 22 percent, 19.1 percent, 19 percent and 17.9 respectively. In the North, Gombe, Kano and Bauchi experienced lower than the national average.
However, Nigeria’s leader, President Muhammadu Buhari in his reaction to current food price hike across the country appealed to residents for calm.
File Photo of Nigeria’s President Muhammadu Buhari.
President Buhari, at the yearly Chartered Institute of Bankers of Nigeria (CIBN) Conference in Abuja, which he declared opened, assured Nigerians that prices would trend down soon
The president, represented by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed said: “Amidst the uncertainty created by the pandemic, we’re confident that the Nigerian economy will bounce back strongly within the near term with the right policy responses to the multidimensional crises.
“Since we cannot simply wait for things to get better on their own, we have to formulate appropriate policies and implement them steadfastly to address the challenges head on”, the President said.
Giving account of efforts to mitigating the economic challenges occasioned by the COVID-19 pandemic, the President explained that so far, the Federal Government had implemented a wide range of fiscal, prudential and monetary measures that squarely addressed four key necessities.
He said government is ensuring sufficient liquidity, in part to support its programmes for saving lives and livelihoods. He listed others to include maintaining stability of the financial system, ensuring continued delivery of financial services to the public, and shoring up confidence to cushion economic activity.
Also speaking at the conference, the Governor of the Central Bank of Nigeria [CBN], Mr. Godwin Emefiele expressed hope for price moderation, just as he blamed the increase in prices to some fiscal measures adopted recently.
File Photo: Governor of Central Bank of Nigeria, Godwin Emefiele speaks at the Nigeria Capital Markets and Banking Forum. Chris J Ratcliffe / Bloomberg
He gave a historical perspective to the inflation trajectory in the country in the beginning of the first quarter of 2020 and response action taken by the apex bank to hedge the trend.
“Inflationary pressure persisted in the first and second half of the year due to several factors.
“In addition to the disruption to global and domestic supply chains as a result of COVID-19, inflation was exacerbated by the increase in VAT rate, exchange rate adjustment and seasonal food supply shocks due to the onset of the farming season and other structural bottlenecks.
“Inflation in July 2020 stood at 12.8 percent. We, however, expect inflation to begin to moderate towards the end of the fourth quarter, as we approach the harvest season, along with the phased withdrawal on restrictions of movement and other measures imposed as a result of COVID-19”, CBN Governor, Emefiele said.
The Federal Government and Lagos State Government Tuesday agreed to stop barge operations along the coastline of Marina in Lagos Island with the aim of preserving its beauty and serenity.
To this end, the Federal Government in conjunction with Lagos State Government has ordered the stoppage of all such operations, which have desecrated the once beautiful and peaceful Marina coastline.
The Nigerian Ports Authority (NPA) has also been mandated to revoke barge approvals granted some companies operating in Lagos.
Inspecting the activities of the barge operators around the Marina coastline, Minister of Transportation, Rotimi Amaechi, and Lagos State Governor, Babajide Sanwo-Olu, directed the operators to stop forthwith.
The duo, who went round the coastline, expressed their displeasure over the long row of trucks and containers that have constituted health and security hazards on the Marina. They said the activities of the barge operators have caused a major devastation along the coastline that used to be the pride of the state, attracting crowds of visitors.
Amaechi and Sanwo-Olu found the “unwholesome” activities on the coastline “shocking” and “unacceptable.”
The minister spoke of an urgent need to sanitise the entire Marina coastline and restore its tranquillity and beauty.
He ordered that trucks must immediately stop coming to Marina to load.
Amaechi said the National Inland Waterways Authority (NIWA) did not grant anyone permission to carry out barging operations, insisting that all such activities must stop immediately.
“The Federal Ministry of Transport has agreed with Lagos State Government to ensure that whoever is making use of the Marina coastline should stop. We have agreed with Lagos State Commissioner of Police to stop those using the roads and we have agreed with NPA to cancel all barge permits pending when each person will come back to NPA, NIWA and Lagos State Government to renew such approval,” he said.
On his part, Sanwo-Olu directed Lagos State Commissioner of Police, Hakeem Odumosu, to arrest and prosecute anyone who flouts the order to stop “unauthorised activities” on the Marina.
The governor, in a statement by Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, said the state givernment would do everything to bring sanity to the coastline.
“We are also talking to the Federal Ministry of Works and Housing because we understand that some of the approvals were from the Federal Ministry of Works. So, we are also taking up that responsibility and we would do what we need to do,” Sanwo-Olu said.
Also at the inspection were NPA Managing Director, Hadiza Bala Usman, representatives of NIWA, Ministries of Works as well as Waterfront Infrastructure Development and the Police.
General Manager of Lagos State Traffic Management Authority (LASTMA), Olajide Oduyoye,
General Manager of Lagos State Traffic Management Authority (LASTMA), Olajide Oduyoye, has berated the lady officer, Odunlami Adepeju, in a viral video circulating online.
Oduyoye described the act of the lady officer as an “unprofessional conduct, misbehaviour and public display of violence,” saying Adepeju has demonstrated “poor professional judgement of the situation as a public servant” of Lagos State Government whose conduct is the focus of the public, thereby “misrepresenting and casting smear on the state government and the agency.”
He said the lady officer and her male subordinate in the video have been “invited for investigation and that, on conclusion, disciplinary action for misrepresenting Lagos State Government and the agency would be meted out to the culprits as laid down in the rules of the extant laws of Lagos State Civil Service.”
LASTMA chief assured members of the public of “due diligence” over the incident which occurred at Aromire junction in Ikeja on September 11.
Recounting Adepeju’s statement in the course of interrogation, Oduyoye said: “Odunlami Adepeju, in her statement, claimed that at about 2.00pm on Friday, she sighted a black Honda vehicle with registration number SF 885 KJA running on red light at Aromire junction while the driver and passenger did not strap the seat belt on, she did not act at the material time but only warned the driver.
“She further said that to her dismay, on the vehicle’s return journey, the driver and the passenger were still not strapping the seat belt and she decided to apprehend the recalcitrant driver for the traffic infraction which led to altercation with the passenger biting her finger and the driver punching her head resulting in lacerations which she also said got her enraged.”
The general manager noted that though the driver of the vehicle actually committed a traffic infraction, “the LASTMA official should have simply documented the details of the vehicle for action by the Zonal authority instead of allowing the issue to degenerate to the level of being assaulted which led to her becoming angry according to her.”
Oduyoye, in a statement by the agency’s Assistant Director, Public Affairs, Filade Olumide, explained that LASTMA as a government agency, trains and continues to retrain its staff on proper discharge of their functions and duties professionally, an example is the recent retraining of all field staff at Lagos State Law Enforcement Training Institute (LETI).
He enjoined the members of the public to continue to report all misdemeanors by any officer on Lagos roads, so that “we can make corrections and be better, more efficient and effective traffic managers/agency.”
File photo of Spokesman of the opposition Peoples Democratic Party (PDP), Kola Ologbodiyan.
Peoples Democratic Party (PDP) has accused the National Leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, of seeking infantile attention in a political dispensation that has moved beyond unnecessary ego trips.
PDP said it’s amused by “the amateur video released by the now regional leader of the APC, Asiwaju Bola Tinubu, in which he violated all tenets of democracy by attempting to arrogate to himself supremacy powers, lord over the people of Edo State and dictate their choice of leadership.”
According to the opposition party, “It is indeed pathetic and derisory that Asiwaju is claiming to be the leader of all democrats in Nigeria, which obviously he is not, while at the same time violating the fundamental of democracy, which is allowing a people to freely chose their leaders without confrontations with lies, coercion, mudslinging, slanders and beguiling as exhibited in his amateur video.
“It smacks of unpardonable hypocrisy that an individual who claims to be a democrat will at the same time chose to sit in the comfort of his residence to insult the people of Edo State over their manifest choice of Governor Godwin Obaseki as their preferred leader, for another term of four years, due to his sterling democratic qualities and performance in office.
“Asiwaju cannot be claiming to be a democrat while campaigning for an individual that has already been rejected by the people of Edo State, having been exposed by none other than the former national chairman of his party, Adams Oshiomhole, as a thief, fake pastor, acid bather, a person of questionable character who is only fit for ‘night meetings’ and should not be trusted with the position of the governor of Edo state.
“We know that Asiwaju is desperate to re-launch himself into relevance but can someone who wants the nation to believe that he is a democrat be campaigning alongside self-confessed liar, who has been rejected by his kinsmen and suspended as national chairman of his party, all in the quest to install a stooge in office?
“Asiwaju must be reminded that Edo State is not part of his fiefdom and that the needless sanctimonious pomposity which he displayed in the broadcast will never sway the people.
“This is because Edo State is home to very eminent and exceedingly intelligent personalities including highly revered royal fathers, religious and community leaders, astute public administrators, outstanding politicians and captains of industry, who are not ready to alter their resolve for Governor Obaseki.
“If anything, Asiwaju’s broadcast has again exposed an imperialist agenda against the Edo people, a development that has further strengthened the resolve of the people of Edo State to permanently put an end to political godfatherism, which Asiwaju represents in the Nigerian political firmament.
“Furthermore, without conceding to Asiwaju’s jejune argument, we ask, what contribution to democracy did he found in President Muhammadu Buhari when he presented him, then as General Buhari, to Nigerians ahead of the 2015 presidential election?
“Moreover, Nigerians are gradually seeing through Asiwaju’s claims of having fought for democracy as mere myth. The true heroes of democracy include the founding fathers of our party and the regular people of Nigeria, who unlike most self-acclaimed leaders of democrats, never sneaked out of the shores of our country but stood firm to the very end.”
“Our party had severally cautioned Asiwaju Tinubu to steer clear of our candidates and desist from infantile attention seeking in a political dispensation that has moved beyond unnecessary ego trips.
“The people of Edo State had since made up their minds to re-elect Governor Obaseki and APC leaders such as Asiwaju, in their vanity should come to terms with that,” said a statement by PDP National Publicity Secretary, Kola Ologbondiyan.
Obaseki is a dictator with no democratic values -Tinubu
You can’t extend your political empire to Edo – Obaseki
Ahead of the September 19 guber poll in Edo State, National Leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, Tuesday described the Peoples Democratic Party (PDP) governorship candidate in the state, Governor Godwin Obaseki, as a dictator who does not appreciate democratic values.
Tinubu, a former Lagos State governor, said Obaseki lacks democratic qualities because he has not been part of any known struggle towards the entrenchment of democracy in Nigeria.
In a sponsored video which was aired on TVC, APC chieftain accused Edo State governor of going against the ideals of democracy by “preventing” some lawmakers of Edo State House of Assembly from being sworn in.
To this end, Tinubu charged electorate in Edo State to reject Obaseki and vote massively for the governorship candidate of the All Progressives Congress (APC), Osagie Ize-Iyamu.
According to him, “I want to appeal as a committed democrat and a leader of all democrats to our conscience and commitment to democracy on the forthcoming election in Edo state, to reject Godwin Obaseki.
“I have suffered with many others to bring about this democratic regime that today we are enjoying in the country. Then, Godwin Obaseki didn’t participate in any aspect of the struggle to enshrine democracy in the country.
“Therefore, he could not understand the value and the pains associated with this democratic struggle…
“He demonstrated the act of dictatorship, lack of respect for rule of law, lack of respect for you the people who voted for those legislators prevented from being sworn-in.
“Today, he now comes back as a democrat wanting you to vote for him. Please, I appeal to you, reject him. Like he rejected the 14 members, you should reject him at the polls.”
Ironically, Tinubu was among APC chieftains that campaigned and endorsed Obaseki when he was contesting for the same position four years ago.
But, Obaseki had to dump APC for PDP after losing the governorship ticket to Ize-Iyamu.
Video:
in a reaction, Governor Obaseki, who Spoke in a statement on Tuesday through his Special Adviser on Media, Crusoe Osagie, said Edo voters are determined to end godfatherism in the state.
“Our attention has been drawn to a television broadcast in which a former Lagos State Governor and chieftain of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, in his quest to extend his political dominance and empire to Edo State, decided to take over the role of Edo people to choose through the ballot who to govern them for the next four years,” he said.
“It has become obvious that the spirited fight which Edo people have put up against godfatherism has sent tremors beyond the shores of Edo to the likes of Tinubu, who has for years sustained a stranglehold on Lagos and other states in South Western Nigeria, hence this desperate, last ditch effort to rescue the unproductive political instrument, now popularly referred to as godfatherism, with which he has feathered his nest and built his political empire at the expense of the people.
“Tinubu knows clearly that come September 19, when godfatherism would have been dismantled in Edo State, the people of Lagos may just have found the recipe and formula for removing the chokehold placed on their collective destinies for decades by Tinubu, hence the inciting television broadcast.
“He should take note that Edo people do not yield their will, liberty and power of choice to oppressive figures because they are perceived to have economic and political means. Like one of the great sons of Edo, former Governor and former National Chairman of the APC, Chief John Odigie-Oyegun, recently said, our people do not give in to ‘primitive loyalties.’ We always chase noble causes and a little study of our history, should show Tinubu the indomitable spirit of the Edo person.
“Edo stands in the heart of the old Midwestern Region, which was the only region created through plebiscite, which underscores our capacity to determine our destiny as a people. The blood which ran in the veins of the leaders of that time is still the same that runs in the vein of the leaders of Edo State today”, he said.
The PDP candidate however, appealed to residents of the state to disregard Tinubu’s comment and cast their vote for him.
A supporter of the Peoples Democratic Party (PDP) says Edo State Governor and candidate of the PDP in the September 19th Governorship election will emerge victorious.
The Coordinator, Edo Redemption Movement, under the PDP, Prince Idemudia Okojie, expressed this optimism in a statement on Tuesday in Benin city, the Edo state capital.
Okojie hailed Obaseki as having performed creditably in various sectors of the state to the admiration of majority of the people.
Coordinator, Edo Redemption Movement, under the PDP, Prince Idemudia Okojie
Commending the Governor for delivering well on the Channels TV debate, he said the achievements of Obaseki will be rewarded at the poll.
Okojie further commented that the outcome of the debate has exposed APC candidate, Pastor Osagie Ize-Iyamu’s inability to govern the state if given the opportunity.
“It is very good that the political debate on Edo Election was held and sentiments apart, every indigene of the state knows that Obaseki has more to offer the state than Ize-Iyamu and the only way Obaseki would lose is for the APC to rig the election in favour of their candidate.
“If we are to be sincere as indigenes of Edo state, there is no doubt that Obaseki performed creditably well and giving the opportunity for a second term by the good people of the state can only make the state better.
“Obaseki has governed well. Politics is about development. It is not just to grab power by all means without having nothing to show as good development, thereby taking the state backwards.
“But with Obaseki in charge of the state for the next four years, i can assure that the people will witness more developments.
“And if the score card of the debate is anything to go by where Obaseki got over 75% rating, it shows that he is simply unstoppable and every attempt to rig him out of office will not stand because the desire of the people of Edo state is to see him to win re-election come saturday,” he said.
Infrastructure Concession Regulatory Commission (ICRC) has advised the general public to ignore the fake news about the embankment collapse of Kainji Dam, assuring that the dam is safe.
The commission explained that what is “currently happening at Kainji is a well planned and professionally managed annual to periodic reservoir management practice of safe and controlled spilling of computed volumes of water through the dam spillway for safety and other well designed and thought out operational reasons.”
ICRC noted that embankment collapse would have resulted in what is called a dam break wave, adding that embankment collapse at Kainji Dam would probably be the biggest disaster to hit Africa since the turn of the century.
“”It is important to inform Nigerians what an embankment collapse means and its implications.
“Kainji Dam impounds over 16 billion litres of water. Embankment collapse means the dam structure is breached leading to loss of containment of the impounded water.
“Embankment collapse will result in what is called a dam break wave. Most empirical hydraulic models will show that everything probably some decent distance on both banks of the Niger from Kanji dam location to the sea will be washed away.
“Embankment collapse at Kainji Dam will probably be the biggest disaster to hit Africa since the turn of the century – destructive power of water.
“A dam break wave is very similar and destructive as a Tsunami wave but is not of seismic origin as a Tsunami.
“We are not sure any person would wish this type of disaster on his or her country or continent,” the commission pointed out.
ICRC, in a statement by its Director-General/Chief Executive Officer in the Presidency, Chidi Izuwah Snr, described the story of embankment collapse as “very dangerous fake news.”
Izuwah attested to the “integrity of Kainji Dam,” saying the dam is “intact and the facility is operating flawlessly and injecting lowest-cost power to the national grid.”
According to him, “During our last compliance monitoring visit before the COVID-19 era, all aspects of the dam were inspected by us and where appropriate function tested.
“We thoroughly inspected the Dam Crest, Reservoir, Embankment Rip Rap, Dam Toe, Toe Drain, Piezometers, Spillway, Stilling Basin, Power House etc.
“Furthermore, Kainji has one of the most sophisticated real-time inflow prediction and reservoir basin management systems. This computer-based system with feeder monitors on the upstream and downstream stretches is designed to ensure world-class hydraulics flow management for dam, upstream and downstream safety management.”
He told the general public to discountenance the fake news, explaining that as part of the Power Sector reforms, Kainji Hydropower Facilities were concessioned to Mainstream Energy Solutions Limited.
He added that Mainstream’s responsibility includes safe custody of the entire dam structure and appurtenances.
“ICRC, being the statutory agency responsible for pre- and post-contract regulation of PPPs and concessions has continued regular technical and other compliance monitoring of the Kainji Concession,” Izuwah assured.
The director-general advised Nigerians to check the status of each PPP and concession project on ICRC disclosure portal via www.icrc.gov.ng or directly with the commission to avoid making reckless statements.
The Poultry Association of Nigeria (PAN) has advocated the total ban on the importation of frozen poultry products, and maximum sanction and prosecution meted on violators.
The President of the Association, Ezekiel Ibrahim Mam made this know at a news briefing in Abuja when he attempted assessing the situation of poultry farmers this far.
Mam, who appreciated President Muhammadu Buhari for coming to the aid of the association by approving 5,000 metric tonnes of Maize from the National Strategic Grains Reserve to support the Poultry Association of Nigeria (PAN) at a subsidised rate of N90,000 per MT, as against the current market price of N170, 000.
A photo illustration showing a large farmland. [Photo Credit: Africa Business] Classroom.The PAN president noted that there was a dire need to subsidise the agricultural sector, pegging interests’ rates on loans to a maximum of 3% as this would ensure food sufficiency in the nation.
Also speaking, Director-General of the Association, Mr. Onallo Akpa noted that the demands of the association were in line with Executive Order 5 of the Federal Government aimed at promoting local production of goods and services to boost industrialisation in the country.
In August this year, there was panic in poultry farms nationwide as the business was threatened by the scarcity of maize which hampered feed production, Radio Nigeria reported.
Nigeria’s National Assembly leaders, President of the Senate, Ahmad Lawan, and Speaker of House of Representatives, Femi Gbajabiamila, have been dragged before the Federal High Court, Abuja to defend themselves on reasons for refusing to publish reports of corruption probes supervised by the legislature.
The suit was filled on behalf of the Socio-Economic Rights and Accountability Project (SERAP) by its lawyers, Kolawole Oluwadare and Opeyemi Owolabi over the weekend at a Federal High Court in Abuja.
The non-for-profit social initiative organization sued both leaders of the National Assembly specifically for failure to disclose the number of probes that have resulted in any indictment of suspects and to name such suspects since 1999.
Senate President Ahmad Lawan
SERAP’s court action followed a recent public hearing by the National Assembly on corruption allegations in ministries, departments and agencies, including the Niger Delta Development Commission (NDDC) and Nigeria Social Insurance Trust Fund (NSITF), which the National Assembly has not issued a report.
According to SERAP reports of public hearings and corruption probes by the National Assembly had been kept secret, and the allegations unresolved.
The court papers as reported by the Guardian stated that SERAP wants an order of mandamus to direct and compel Senate President Lawan and Speaker Gbajabiamila to send all reports of completed public hearings and corruption probes to appropriate anti-corruption agencies to consider if there is sufficient admissible evidence to pursue prosecution.
Speaker, House of Representatives, Femi Gbajabiamila
The plaintiff is also seeking an order for leave to apply for judicial review and an order of mandamus to direct and/or compel Lawan and Gbajabiamila to widely publish all reports of completed public hearings and corruption probes by the Senate and the House of Representatives and to disclose the number and names of any indicted suspects since 1999.
Further to SERAP’s prayers to the court is “an order of mandamus to direct and compel Lawan and Gbajabiamila to sponsor a resolution to stop lawmakers from directly getting involved in the execution of projects by MDAs, and to ensure the proper and effective exercise of their oversight functions over corruption allegations, including in the NDDC and NSITF.”
In a Freedom of Information (FoI) request dated July 25, 2020, SERAP stated that “The most effective way to deter corruption is to make the cost of engaging in these types of acts higher than the rewards. This end can only be accomplished by making public the reports and pursuing public accountability for corrupt acts.”
While no dates have been fixed for the hearing of the suit, SERAP believes granting the reliefs sought would bolster public trust and confidence in the lawmakers’ oversight functions, and dispel the perception that many of the hearings and probes are politically-motivated and serve a personal interest, rather than the general public interests.
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